Legal Question in Real Estate Law in Illinois
possesion of real estate property
I purchased a home with my ex five years ago. Our title is labeled as joint tenacy in common. My ex has left and married another and we do agree that I can keep the home. Due to financial situations, I do not want to take his name off of the title. He agrees. My question is that if something happens to him, death, does his wife get any rights to my house and also is there anything I do to keep my house free and clear if anything does happen to him. I also have two children by him.
1 Answer from Attorneys
Re: possesion of real estate property
Title is either in joint tenancy OR tenancy, but not both. There is a big differnce. With joint tenancy, if one of you dies, the survivor owns the property. With tenancy in common, if one of you dies, the survivor keeps his or her interest, and the interest of the person who dies goes to their heirs or devisees if they have a will.